Miscellaneous Discussions

[andyzee]

$1.49, hard to believe that just a few months ago these same stations were selling regular for $3.85

 

[drjeff]

Local TV news this AM had an analyst on that was seriously talking about $1 a gallon gas!

I had a patient in yesterday who does deliveries/service for an oil company and he was saying that basically the only people complainng now were the handfull of folks that locked in back in July Although he did say that his company was suspending those lock in contracts as of December 31st and those people that locked in would be paying whatever the going rate on delivery day is.

 

[billski]

Local TV news this AM had an analyst on that was seriously talking about $1 a gallon gas!

I had a patient in yesterday who does deliveries/service for an oil company and he was saying that basically the only people complainng now were the handfull of folks that locked in back in July Although he did say that his company was suspending those lock in contracts as of December 31st and those people that locked in would be paying whatever the going rate on delivery day is.

Glad I didn't lock in on home heating prices last year. In the summer I wished I had. Now I'm glad I didn't. This is almost as much fun as skiing in the rain.

 

[severine]

$1.68/gallon yesterday. Same station where it got up aruond $4.35/gallon this past summer. Crazy.

 

[andyzee]

Today the Saudis are supposed to cut oil production, yet this morning the price fell to $1.45 by me. Last time Opec cut production, believe it was about the Sept/Oct time frame, prices went into a downward spiral. Hoping for the same. Let them eat sand!

 

[Warp Daddy]

+1

plus lets up our game selling them any agricultural output and factor our prices up twice any friggin increase those "sand dancers " put on their damn oil

 

[ctenidae]

Today the Saudis are supposed to cut oil production, yet this morning the price fell to $1.45 by me. Last time Opec cut production, believe it was about the Sept/Oct time frame, prices went into a downward spiral. Hoping for the same. Let them eat sand!

Realizing, of course, that when oil prices drop, revenues for oil producing countries drops, which means gov't spending in those countries drops, which means social services and such drops, which makes locals angry. They're not angry at their gov't (who locked their entire economy to oil production).

Positives of a production cut is that reducing production will extend the life of the fields, beyond the simple math of slower draws. Keeping the price up a bit also makes more exploration and production economic, which is needed to replace declining production. You watch- if oil stays cheap like this for very long at all, the production shortfall that will occur when demand picks back up will be ugly, and the longer prices are low the uglier it will get.

Of course, OPEC hasn't been able to make a production cut stick in 30 years, and any cuts by the Saudis will be covered by other countries.

 

[frozencorn]

$1.59

 

[ctenidae]

So, end of February, Switzerland, or Austria?

 

[andyzee]

So, end of February, Switzerland, or Austria?

I'll be looking at Priceline.com, never got a deal from them til now. Got a Best Western Hotel room in Rutland for 50% off. I figure if the economy stays the way it is, and I expect it will for awhile, then there will be deals to be found.

I was planning on going out west this season, But after the New Year, I'll have to check the prices out there. That is if I still have a job of course. :lol:

 

[GrilledSteezeSandwich]

$1.49, hard to believe that just a few months ago these same stations were selling regular for $3.85

For sure..I saw $1.47 somewhere in Jersey today..

 

[severine]

$1.65 was the lowest I saw today.

 

[drjeff]

It was raining so hard when I drove by the gas station that I didn't notice what gas was around here today

 

[GrilledSteezeSandwich]

It was raining so hard when I drove by the gas station that I didn't notice what gas was around here today

Between driving to skiing and work..I've been filling up my tank about twice a week and for like $17..lol

I read an article in Newsweek about how the past 3 months of cheap oil is hurting Dubai bigtime. I house that used to be 5 million is now 3 million and includes the owners Bentley..If I only had 3 million..then I could ski at their Snowdome..

 

[andyzee]

 

[billski]

Realizing, of course, that when oil prices drop, revenues for oil producing countries drops, which means gov't spending in those countries drops,

They already got our money. Their current building initiatives will go on for decades.


I am very pleased that my ski trip commuting expense has dropped to 1/3 of what it could have been. Now I can afford a cheeseburger!

 

[andyzee]

Realizing, of course, that when oil prices drop, revenues for oil producing countries drops, which means gov't spending in those countries drops, which means social services and such drops, which makes locals angry. They're not angry at their gov't (who locked their entire economy to oil production).

1. Are there truly social services in those countries?
2. Oil prices drop, that leaves more money for us to spend in this country, resulting in more taxes to our government, resulting in their spending more money. Our government is by far one of the best at spending.

 

[ctenidae]

1. Are there truly social services in those countries?
2. Oil prices drop, that leaves more money for us to spend in this country, resulting in more taxes to our government, resulting in their spending more money. Our government is by far one of the best at spending.

Both good points- it's all about balance. In most oil countries, "social services" consists of payoffs to the populace to keep them quiet. Cut those payments, and hilarity does not ensue.

 

[severine]

Gas is starting to go up again. $1.69/gallon last night.

 

[Warp Daddy]

OPec trying to cut production by 2 million barrels a day -- we'll see they 've never been able to sustain that kind of move for long